The Daily Meme #391!
The mint of the united snakes has put out a press release:
When the federal reserve finally gets sent packing, as they have two times before, the federal reserve notes will hold only scrap paper value.
But, the coins minted by the us treasury will remain united snakes' coins.
IF we go back to a gold standard, some say by dropping two zeros from the price of gold now, your coins will still hold face value in the new valuation.
That means, if we make 20dollar gold pieces the standard, you coins will go up 100x.
A 2000 frn ounce of gold becomes a 20usd ounce of gold and all your coins follow in value.
To do this will require that prices from the last time gold was 20usd to the ounce will have to return, at least temporarily.
That was in 1912, before the federal reserve started debasing our currency.
In any event, the metal in the coins is not gonna get any easier to get out of the ground, so the relative value of the metal in coins will persist through any monetary collapse.
Hoard your coins.
That is all, for now, you may resume your otherwise mundane day.
To contest the characterization of your day as mundane, make a post of your own explaining why your day is not mundane and ping me, eh?
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nice post, I am hoarding what I can !1UP
Absolutely. That is why I'm SAVING EVERY single one of my coins and exchanging a few dollar bills at stores for coins. Once a month, I'll be withdrawing money in coins.
The dollar is backed by nothing but at least collectors will value coins more and these coins are made out of metals instead of 'paper'.
Nickels and pre-1982 pennies are already worth more than face value.
http://coinapps.com/base-metal/coin/calculator/
Exactly, I'll be lucky to get a silver dime or a silver quarter from 1964 and before. I am NOT giving up any of my nickels, especially as the green energy industry needs nickels and relies heavily on conductors of electricity, copper and nickel's value will only grow over the years.
https://coinweek.com/bullion-report/the-nickel-hoarding-billionaire/
Nickels are a good bet, imo.
Absolutely agree! I was just surprised 1938-2022 all are in same category. I thought the older ones would be more since the New seem lighter and different. I assumed they changed material breakdown from say 1950 to 2019.
Grab 1982 and older pennies, they are worth 3x in metal.
Mining costs are unlikely to go down.
If we get rid of the fed, we can move the decimal over 2 places and pennies become dollars.
As long as everybody goes for it, we can 100x our purchasing power, overnight.
A $20 gold piece would become 20usd, again.
We keep holding
Strange idea, never though that coins are metal backed money. Despite losing value in currency, the metal of which could stay stable...
Yep, in 1983 Reagan debased the pennies.
1982 and older are worth ~3cents.
The newer ones are about to hit 1cent.
http://coinapps.com/base-metal/coin/calculator/
This page gives the various values.
It also gives the value of metal in other currencies. Thus, the exchange rates as we know today are not true :)
Have you ever considered one of these engines? Fresh from the factory?
https://performanceparts.ford.com/engines/#7.3L
I haven't been in a position to even dream of it for a long time.
I'd think that, if it comes with some kind of warranty, it would be the best deal out there.
I'm looking for a motorcycle that can hold 100+ miles an hour through several tanks of gas, right now.
And, a compact pickup to carry it in will be a bonus.
Some of them can get a warranty. If I was going to build a race car I would buy one.
I could but I would rather build harder assets. Like concrete ones. I was thinking about building one with my boys a few years back.
It really is the golden age of muscle cars.
I was in the muffler business in the early 90s and that was all just getting going.
It's an expensive hobby, and a profitable business, if you can do the labor yourself.
Always Hoarding...
!gif hoard
Via Tenor
I prefer pack rat.
I remember that pocket change account on steemit talking about this. I don’t see it happening. But I do agree keeping the coins has been smart regardless. I got a nice load of pennies and nickels.
I just think when the central bank is gone it’s going to be after a total collapse of dollar situation so we won’t be close to here. Frankly it looks to me like the central banks aren’t going anywhere anytime soon. Unfortunately.
Cheers 🪙 friend
When we are ready to end the fed, we can simply move the decimal over 2 places and a 20usd gold piece becomes 20usd again and pennies buy a dollar's worth.
The math will be simple for the stores and people alike.
What was 100usd is now 1usd.
Not that hard to sell, if you can reach the folks.